Domain Names For Crypto Addresses Aren’t Ready Yet | EP#179


Hey everyone Scott Cunningham aka @scottcbusiness today I want to talk to
you guys about domain services for
crypto and how it’s not there yet
unfortunately even though we were
anticipating that it would be and I was
led to believe that it would be at least
four unstoppable domains but currently
it is not you are able to do it with one
crypto wallet moonlit but it is such a
niche wallet I’ve never even used it
never even heard of it before today and
until major wallets can support this
unfortunately it’s not possible however
I still think the underlying concept is
extremely important and once major wall
it’s like madam asked and other you know
big wallets like ledger and tracer and
all the are the hull all the hardware
wallets that start to actually adopt
this I think it will be the driving
change for mass adoption for people who
it’s similar to the way that the
internet evolved essentially I’ve made a
video on this previously and essentially
what would happen is we’d be replacing
cryptocurrency addresses that are very
very long and hard to remember and well
basically impossible to remember you
have to copy and paste them to use them
but instead we’ll be able to send them
just using you know a domain so for me
it’s Scott Cunningham Don’s ill very
easy to remember very easy right out
very easy for me to receive crypto the
issue right now is that almost no wallet
support this right so when I try to go
to into my meta mask wallet and I type
in Scott Cunningham Don’s ill it can’t
resolve the address ideally in the
future that exact that’ll be exactly how
you will be able to send and receive
cryptocurrency but currently it is not
in effect this runs on the liqui Network
there’s also the
yeoreum name service that is being that
is in the works I’m pretty sure it’s
still in the works but the point here
being that it isn’t ready yet
unfortunately even though they launched
five days ago but it’s not actually
ready in the in the sense that all the
wallets and places where you would
actually try to use this you can’t so
while yes it does technically work
because you can do it using moonlit it’s
not really it’s not really ready for for
the people who would actually use it and
where they would actually use it it is
not currently ready also something that
I’ve never really touched on previously
when I talked about this was the fact
that you’ll be able to create unsensible
websites that will be ready for you know
some time but I still think it is
definitely you know important to
highlight this because once this is
ready it is going to be a huge huge
shift in the same way that the internet
had when they went from using IP
addresses to domain names because the
average person wasn’t able to remember
an IP address so it just wasn’t very
effective for people and once they came
out with domains it was a huge huge
change in the way that the internet was
used and I hope to see the exact same
type of change with cryptocurrency once
it is actually able to be used I did a
video on this you know ten minutes ago
and I was gonna go through and actually
show you a transaction but considering
it didn’t work all of the video leading
up to that was very misleading so I
figured I would go back and I would redo
this just to let you guys know that it
isn’t quite there yet but it is it’s
almost there and I’ve got my domain and
I’m ready to go with you know with
setting up my my addresses everything is
ready you can technically use it with
moonlit but it’s unrealistic that people
are going to switch wallets just for the
sake of this once it works with
everything I think we will see a huge
wave of adoption
but until then we will have to wait and
hope that maybe someone else provides a
better solution like the etherium naming
service and there’s other platforms that
are trying to do the same thing so we’ll
see who actually gets it working for all
wallets or if we really have to wait on
the wallets versus on on their side
we’ll find out what do you think about
this where do you see this going and how
do you think this is going to affect the
crypto space let me know in the comments
below and be sure to comment #1ham in the comments if you
watch this to the very end thank you so
much don’t forget to comment like and
subscribe.
I’m Scott Cunningham aka @scottcbusiness
signing off

Add a Comment

Your email address will not be published. Required fields are marked *